Business Reforms in Cambodia
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
Starting a Business: Cambodia made starting a business more difficult by increasing the time required to register and by requiring companies to submit evidence of capital deposit after registration.
Getting Credit: In Cambodia the credit bureau started to provide credit scores to banks and financial institutions, improving access to credit information.
Starting a Business: Cambodia made starting a business easier by simplifying company name checks, streamlining tax registration and eliminating the requirement to publish information on the new company’s incorporation in the official gazette.
Getting Electricity: Cambodia reduced the average frequency and duration of power outages experienced by a customer over the course of a year in Phnom Penh by increasing power generation capacity.
Starting a Business: Cambodia made starting a business more difficult by introducing a requirement for a company name check at the Department of Intellectual Property and by increasing the costs both for getting registration documents approved and stamped by the Phnom Penh Tax Department and for completing incorporation with the commercial registrar.
Getting Credit: Cambodia improved access to credit information by establishing its first private credit bureau.
Paying Taxes: Cambodia introduced a new tax on immovable property.
Getting Credit: Cambodia strengthened its credit information system through a new regulation allowing credit bureaus to collect and distribute positive as well as negative credit information.
Trading across Borders: Cambodia eliminated preshipment inspections, reducing the time and number of documents required for importing and exporting.
Paying Taxes: Cambodia made paying taxes more costly for companies by introducing a social security contribution based on employees’ average monthly wage.
Getting Credit: Cambodia adopted its first secured transactions law—enabling the use of movable property as collateral and ensuring that secured creditors’ claims have priority in case of debtor default—and launched an online unified collateral registry.
Resolving Insolvency: Cambodia adopted its first law regulating the bankruptcy of private enterprises (the 2007 Bankruptcy Law), which introduced a reorganization procedure to restructure insolvent companies.